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KS Closing
Agreement Compliance Report
Closing
Agreement
DEPARTMENT
OF THE TREASURY - INTERNAL REVENUE SERVICE, ESTATE OF BERNICE PAUAHI
BISHOP ALSO KNOWN AS, KAMEHAMEHA SCHOOLS BISHOP ESTATE CLOSING AGREEMENT
ON FINAL DETERMINATION COVERING SPECIFIC MATTERS
Part A: Resolution of
Audit Issues Relating to KSBE's Exempt Status (p.
11/33)
Part B: Settlement of Tax
and UBIT Issues (p. 27/33)
Part C (p. 30/33)
ATTACHMENT
I:
 KSBE
and KSBE Organizations
ATTACHMENT
II: Support
Income Tax Examination
ATTACHMENT
3: Order
Granting Petition with Respect to Kamehameha Activities
Association
and
the Ke Ali'I Pauahi Scholarship Fund
ATTACHMENT
4: Recommendations
for Trustee Selection Process
ATTACHMENT
5: Policy
Title: Board of Trustees' Duties
ATTACHMENT
6: Procedure
for Removal or Suspension of Trustees
ATTACHMENT
7: Organizational
Chart
ATTACHMENT
8: Position
Specification - Chief Executive
Officer
Position
Specification - Director, Internal Audit
ATTACHMENT
9: Procedures/Guidelines
(I thru VI)
I
Definitions
Associated with Trustee Conflicts of Interest
Policy
II
Situations
Which Could Lead to Trustee Conflicts of
Interest
III
Guidelines
to Address Trustee Conflicts of
Interest
IV
Violations
of the Conflicts of Interest
Policy
V Records
of Proceedings
VI
Disclosure
of Financial and External Activities
ATTACHMENT
10: KSBE Spending Policy
(8/19/99) -
includes Appendix I below
Appendix
I: Endowment
Spending Rate Methodology
ATTACHMENT
11: Method
of Compensation of Trustees
ATTACHMENT
12: Method
of Compensation of Chief Executive Officer
ATTACHMENT
13: KSBE
and KSBE Organizations Procurement Guiding
Principles
TAB
3, APPENDIX 3:
KSBE
Supplemental Appendix to Form
1023,
Reaffirmation
Submission FEIN: 99-0073480
Table of Contents
(p. 2/38)
Background (p. 3/38)
Mission (p. 5/38)
Vision (p. 6/38)
Organizational Goals (p. 7/38)
Education Programs and Services (p. 8/38)
Strategic Planning (p. 12/38)
Spending
and Investment
Policy (p. 14/38)
Governance (p. 19/38)
Financial Reporting & Internal Controls (p.
29/38)
Order of Precedence (p. 38/38)
Exhibit
A: Will
of Bernice Pauahi Bishop
and Codicil
1
Exhibit
B: IRS
National Office Technical Advice Memo.
Exhibit
C: Stipulation
Concerning Request for Proposals Pursuant to Stipulation
No. 13
Exhibit
D: KSBE
Spending Policy
(8/18/99)
Exhibit
E: KSBE
Investment Policy
(8/18/99)
Exhibit
F: Stipulations
Concerning Master's Recommendations (109th, 110th, 111th
Annual Accounts)
Exhibit
G: Recommendations
for Trustee Selection
Process
Exhibit
H: KSBE
Governance Policy
(in its entirety as follows)
Section
1: Governance
Process
Section
2: Executive
Boundaries
Section
3: Board
- CEO Relationships
Section
4: Ends
(Expected Outcomes)
Section
5: Internal
Audit
Appendix
A: Organizational
Chart
Appendix
B: Position
Specs-CEO
Appendix
C: Position
Specs-President, KS
Appendix
D: Position
Specs-COO
Appendix
E: Position
Specs-Internal Audit Director
Exhibit
I:
Organizational
Chart
Exhibit
J: Procedures/Guidelines
(I through VI)
Exhibit
K: Order
Granting Petition for Approval of a Plan for Determining
Trustee Compensation
Pursuant
to Stipulation No. 15 for Creation of a Compensation
Committee in Accordance
with
the Plan
Exhibit
L: Kamehameha
Schools Bernice Pauahi Bishop Estate Consolidated
Financial Statements,
June
30, 1997
Index
Report
of Independent Accountants (p. 2)
Consolidated
Statement of Financial Position (p. 4)
Consolidated
Statement of Activity (p. 6)
Consolidated
Statement of Cash Flows (p. 7)
Notes
to the Consolidated Financial Statements (p. 9-66)
Schedule
of Education Program Revenues and Expenses (p. 67)
Schedule
of Trustees' Commissions (p. 68)
Schedule
of Income Yield and Total Return (p. 69)
Schedule
of Income Yield and Total Return 3-Year Annualized (p.
70)
Notes
to Schedules of Income Yield and Total Return (p. 71)
Exhibit
M: KSBE
and KSBE Organizations Procurement Guiding
Principles
- TAB 4, APPENDIX
4:
- Letter
from the Internal Revenue Service to Interim
Trustees, dated
8/19/99, Department of the Treasury-Internal Revenue
Service, Estate of Bernice Pauahi Bishop, also known as,
Kamehameha Schools, Closing
Agreement on Final Determination Covering Specific
Matters (pgs. 1-36)
-
- TAB 5, APPENDIX
5:
- Letter
from Arthur Andersen to KSBE re: The estimated financial
impact of the potential loss of recognition of Internal
Revenue Code Section 501(c)(3) tax-exempt status for
KSBE.
-
- TAB 6, APPENDIX
6:
- Letter
from Arthur Andersen, dated 8/19/99, re the negotiated
proposed closing agreement as of August 18, 1999 with
representatives of the Internal Revenue
Service.
-
- TAB 7, APPENDIX
7:
- Letter from Miller &
Chevalier, dated 8/12/99, regarding the assessment of
risks of litigating revocation issues.
- Appendix
A
-
- TAB 8, APPENDIX
8:
- Correspondence from
PriceWaterhouse Coopers, dated 8/17/99.
-
- TAB 9, APPENDIX
9:
- Correspondence
from Miller & Chevalier, dated 8/12/99, re:
Settlement of KSBE Federal Income, Employment and Excise
Tax Issues.
-
- TAB 10,
APPENDIX 10:
- Correspondence
from KSBE to the Internal Revenue Service, dated
8/16/99.
-
- TAB 11,
APPENDIX 11:
-
KS
Closing Agreement Compliance
Report
KS
CA Compliance Report (.pdf)
IRS
Closing Report to Court (.pdf)
-
exhibit_A.pdf
- exhibit_B.pdf
- exhibit_C.pdf
- exhibit_D.pdf
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